News & Perspective
Bidens most likely tax hikes. Democrats will likely prove successful in raising individual income tax rates and in strengthening audits of wealthy Americans as they work on overhauling the U.S. Tax Code in coming months. That's a key takeaway from... Read More
States want money for tax cuts. The Republican attorney general of 21 states recently called one aspect of the new coronavirus recovery bill "an unprecedented and unconstitutional intrusion on the separate sovereignty of the States through federal... Read More
Should married couples file jointly. A choice is given to married couples at tax time, to file jointly or separately. Most married people automatically file joint returns because they can get a lower tax rate, but some situations exist where filin... Read More
Taxpayer advocates report about 2020. National Taxpayer Advocate Erin Collins released her annual report to Congress, highlighting the year 2020. It focused on the unprecedented challenges taxpayers faced in filing their tax returns and receiving ... Read More
How millionaires tax helps middle class. Coronavirus infection levels are climbing all around the country again. As more and more Americans stay home to avoid infection, those rising infection rates will likely bring with them another serious econ... Read More
TIGTA critiques protection of data. The IRS continues to have challenges protecting taxpayer data, and especially ensuring that its various applications provide complete and accurate audit trails, according to the Treasury Inspector General for Ta... Read More
Solopreneur tax tips part two. This is the second part of a two part series on being a sole business owner and the different hats you must wear, including the tax preparer hat. One of the ways you can make life easier as a solopreneur is to simpli... Read More
Improving gig worker tax compliance. Gig work is certain activity you do to earn income, often through an app or website(digital platform), like Drive a car for booked rides or deliveries: rent out properties or part of it: run errands or complete... Read More
Qualified improvement property changes. Qualified improvement property, or QIP can include the following: roofs, heating and air conditioning equipment, fire protection, security equipment, installation or replacement of drywall and ceilings, inte... Read More
Qualified improvement property changes. The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided a technical correction to the Tax Cuts and Jobs Act regarding the depreciation schedule for qualified improvements property to nonresid... Read More
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